EUR/CHF is pretty steady in early European trade after yesterdays’ fun and games, presently at 1.5360. Downside looks pretty restricted. Seems to be alot of talk of the 1.5180-1.5200 area being where market participants would expect aggressive SNB action. Having said that, some feel we might even see the SNB try and catch the market on the hop and intervene again today up at these lofty levels. Seems to be fairly high expectations of a short-term move to 1.5500.